Key Energy (KEG), Bonanza Creek Energy Inc (BCEI), Cloud Peak Energy (CLD), Synergy Resources (SYRG), Weatherford (WFT) and Pengrowth Energy Trust (PGH) had ratings and price targets on them adjusted by analysts.
Wunderlich Securities initiated coverage on Bonanza Creek Energy (BCEI). They placed a "Buy" rating and price target of $29.00 on the company.
JPMorgan Chase (NYSE:JPM) initiated coverage on Cloud Peak Energy (CLD). They placed a "Neutral" rating and price target of $16.00 on the company.
Wunderlich Securities initiated coverage on Synergy Resources (SYRG). They placed a "Buy" rating and price target of $5.00 on the company.
Macquarie initiated coverage on Weatherford (WFT). They placed an "Outperform" rating on the company.
Raymond James (NYSE:RJF) downgraded Pengrowth Energy Trust (PGH) from an "Outperform" rating to a "Market Perform" rating.
FBR Capital downgraded Key Energy (KEG) from an "Outperform" rating to a "Market Perform" rating. They lowered their price target on the company from $18.00 to $9.00.
Showing posts with label Key Energy Services. Show all posts
Showing posts with label Key Energy Services. Show all posts
Friday, June 22, 2012
Tuesday, January 31, 2012
NextEra (NEE) (LINE) (KEG) (LPI) (OAS) (TEN) Ratings, Price Targets
NextEra Energy, Inc. (NYSE: NEE), Linn Energy, LLC (NASDAQ: LINE), Key Energy (NYSE: KEG), Laredo Petroleum Holdings (NYSE: LPI), Oasis Petroleum Inc. (NYSE: OAS) and Tenneco Inc. (NYSE: TEN) ratings and price targets.
Wunderlich reiterated its “Buy” rating on Linn Energy, LLC (LINE). They have a price target of $44.00 on the company.
Canaccord Genuity reiterated its “Buy” rating on Key Energy (KEG).
Jefferies Group (NYSE:JEF) reiterated its “Hold” rating on NextEra Energy, Inc. (NEE).
Howard Weil initiated coverage on Laredo Petroleum Holdings (LPI). They placed an “Outperform” rating and a price target of $31.00 on the company.
Oasis Petroleum Inc. (OAS) had its price target raised by Wunderlich from $38.00 to $42.00. They have a “Buy” rating on the company.
Tenneco Inc. (TEN) was upgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Outperform” rating.
Wunderlich reiterated its “Buy” rating on Linn Energy, LLC (LINE). They have a price target of $44.00 on the company.
Canaccord Genuity reiterated its “Buy” rating on Key Energy (KEG).
Jefferies Group (NYSE:JEF) reiterated its “Hold” rating on NextEra Energy, Inc. (NEE).
Howard Weil initiated coverage on Laredo Petroleum Holdings (LPI). They placed an “Outperform” rating and a price target of $31.00 on the company.
Oasis Petroleum Inc. (OAS) had its price target raised by Wunderlich from $38.00 to $42.00. They have a “Buy” rating on the company.
Tenneco Inc. (TEN) was upgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Outperform” rating.
Monday, November 1, 2010
Key Energy (NYSE:KEG) Outlooks Should Improve After Weak Quarter
The last quarterly report by Key Energy Services (NYSE:KEG) wasn't too impressive, but Canaccord Genuity sees things improving for them going forward, and maintain a "Buy" rating on them.
"We reiterate our BUY rating on KEG as we expect pricing to gain more traction in the US well servicing business driven by a high oil price and an increasing oil-directed rig count, stronger coiled tubing demand, equipment going to work in new locations internationally like Colombia and Bahrain, and integration of its OFS Energy acquisition," said Canaccord.
Key Energy closed Friday at $9.85, down $0.20, or 1.99 percent. Canaccord has a price target of $13.50 on them.
"We reiterate our BUY rating on KEG as we expect pricing to gain more traction in the US well servicing business driven by a high oil price and an increasing oil-directed rig count, stronger coiled tubing demand, equipment going to work in new locations internationally like Colombia and Bahrain, and integration of its OFS Energy acquisition," said Canaccord.
Key Energy closed Friday at $9.85, down $0.20, or 1.99 percent. Canaccord has a price target of $13.50 on them.
Tuesday, October 26, 2010
Wells Fargo (NYSE:WFC) Initiates Coverage on Key Energy (NYSE:KEG), Oceaneering (NYSE:OII), Drill-Quip (Nasdaq:DRQ), National Oilwell (NYSE:NOV)
A number of financial institutions launched coverage on a number of energy companies, and Wells Fargo (NYSE:WFC) initiated coverage on Key Energy Services, Inc (NYSE:KEG), Oceaneering International, Inc. (NYSE:OII), Drill-Quip, Inc. (Nasdaq:DRQ) and National Oilwell Varco, Inc. (NYSE:NOV).
On Key Energy Services, which Wells started off with a "Market Perform," they said, "We like KEG's transformation strategy and initial focus on heavy duty, workover rigs, and large-diameter, coiled tubing units. Legacy U.S. rigs should benefit from a 10%+ rise in flowing oil wells over the next 18 months. Finally, it's pushing into new foreign markets, like Colombia and MENA. But, it's pricing in credit for much of this and, before considering higher multiples, we'd prefer to see more results."
They have a valuation range of $10.70 to $11.25 on Key Energy.
On National Oilwell Varco, they were started with an "Outperform" by Wells.
They said, "NOV's narrative has shifted from one plotline--the global rig construction boom - to several, some underappreciated in our view. While an encore of the '05-08 frenzy is unlikely, newbuilding has strong, secular drivers across asset types that are spurring a pick-up, with Petrobrás about to move on its first 9 floaters, and U.S. contractors regrowing shale-oriented fleets; and should ensure an ongoing, healthy flow. But, NOV also 1) is the best positioned in the rig equipment aftermarket; 2) has grown its exposure to FPSOs; 3) should make more $500MM+ acquisitions."
A valuation of $63.00 to $65.00 was placed on them.
Drill-Quip, Inc. was started off with a "Market Perform" rating.
Wells said about them, "The purest, deepwater capital equipment play, DRQ is a well run manufacturer that, over a 2011-12 expected upturn in floater activity, should generate highly competitive earnings growth and returns. Beyond 2012, it's well positioned for Petrobras' planned 20+ newbuilds, and continued, general secular growth. DRQ's valuation premium is warranted and largely reflects its appeal as takeover target. However, we presently find the stock fairly valued and await a better entry point."
A valuation range of $66.00 to $71.00 was placed on them by Wells.
Oceaneering Int'l was launched with an "Outperform by Wells Fargo.
"OII offers compelling risk-reward. We think potential variance to its expected U.S. Gulf of Mexico earnings is skewed to the upside. Globally, the floater fleet should expand by 61 new units and shift towards a more equal balance between exploration and development. Both factors should fuel ROVs and Subsea Products growth. Finally, OII should use its ample fire power continue to return cash, most likely via share repurchases, and make accretive, if likely tiny, acquisitions."
A valuation range of $63.00 to $66.00 was appointed by Wells on Oceanering.
On Key Energy Services, which Wells started off with a "Market Perform," they said, "We like KEG's transformation strategy and initial focus on heavy duty, workover rigs, and large-diameter, coiled tubing units. Legacy U.S. rigs should benefit from a 10%+ rise in flowing oil wells over the next 18 months. Finally, it's pushing into new foreign markets, like Colombia and MENA. But, it's pricing in credit for much of this and, before considering higher multiples, we'd prefer to see more results."
They have a valuation range of $10.70 to $11.25 on Key Energy.
On National Oilwell Varco, they were started with an "Outperform" by Wells.
They said, "NOV's narrative has shifted from one plotline--the global rig construction boom - to several, some underappreciated in our view. While an encore of the '05-08 frenzy is unlikely, newbuilding has strong, secular drivers across asset types that are spurring a pick-up, with Petrobrás about to move on its first 9 floaters, and U.S. contractors regrowing shale-oriented fleets; and should ensure an ongoing, healthy flow. But, NOV also 1) is the best positioned in the rig equipment aftermarket; 2) has grown its exposure to FPSOs; 3) should make more $500MM+ acquisitions."
A valuation of $63.00 to $65.00 was placed on them.
Drill-Quip, Inc. was started off with a "Market Perform" rating.
Wells said about them, "The purest, deepwater capital equipment play, DRQ is a well run manufacturer that, over a 2011-12 expected upturn in floater activity, should generate highly competitive earnings growth and returns. Beyond 2012, it's well positioned for Petrobras' planned 20+ newbuilds, and continued, general secular growth. DRQ's valuation premium is warranted and largely reflects its appeal as takeover target. However, we presently find the stock fairly valued and await a better entry point."
A valuation range of $66.00 to $71.00 was placed on them by Wells.
Oceaneering Int'l was launched with an "Outperform by Wells Fargo.
"OII offers compelling risk-reward. We think potential variance to its expected U.S. Gulf of Mexico earnings is skewed to the upside. Globally, the floater fleet should expand by 61 new units and shift towards a more equal balance between exploration and development. Both factors should fuel ROVs and Subsea Products growth. Finally, OII should use its ample fire power continue to return cash, most likely via share repurchases, and make accretive, if likely tiny, acquisitions."
A valuation range of $63.00 to $66.00 was appointed by Wells on Oceanering.
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